Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 1:

  Which of these is a document used in International trade?

  Options:
  A) Debit note
  B) Credit note
  C) Invoice
  D) Price ring
  Show Answer
  The correct answer is C .
• Question 2: The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called Options:
  A) subrogation
  B) contribution
  C) re-insurance
  D) indemnity
  Show Answer
  The correct answer is C .
• Question 3:

  A number of shipping lines operating on a certain route, which agree on a common policy regarding the conditions under which goods are to be carried

  Options:
  A) Cartel
  B) Conference
  C) Syndicate
  D) Trust
  Show Answer
  The correct answer is B .
• Question 4:

  An agreement that is enforceable in law is

  Options:
  A) an offer
  B) a consideration
  C) a contract
  D) an acceptance
  Show Answer
  The correct answer is C .
• Question 5:

  An insurance policy which is not a contract of indemnity is

  Options:
  A) burglary insurance
  B) fire insurance
  C) life insurance
  D) motor insurance
  Show Answer
  The correct answer is C .
• Question 6:

  A specially-designed mode of transport for conveying liquid and gas is a

  Options:
  A) coaster
  B) tanker
  C) liner
  D) ferry
  Show Answer
  The correct answer is B .
• Question 7: An example of a non-insurable risk is? Options:
  A) burglary
  B) speculation
  C) fire
  D) accident
  Show Answer
  The correct answer is B .
• Question 8: The process of eliminating a virus from a computer program is? Options:
  A) programming
  B) debugging
  C) formating
  D) looping
  Show Answer
  The correct answer is C .
• Question 9: Which of the following countries are members of the lake Chad Basin Commission? Options:
  A) Niger and Cameroun
  B) Benin and Nigeria
  C) Chad and Benin
  D) Nigeria and Mali
  Show Answer
  The correct answer is A .
• Question 10: One of the functions of the Nigerian Ports Authority is that it Options:
  A) gives preferential treatment to Nigerian investors
  B) provides credit facilities to importers
  C) encourages the growth of infant industries
  D) provides warehosing facilities at the docks
  Show Answer
  The correct answer is D .